Nintendo Shifts Business Plan As Ceo Takes Massive Salary Cut

satoru_iwata
Jan
31

Nintendo Shifts Business Plan As Ceo Takes Massive Salary Cut

Published: 31 January 2014    Posted In: News    Written By:   
Developer:    Publisher:    Available On: , ,   

In an attempt to appease shareholders after dismal sales figures and subsequent sales predictions of the Wii U, Nintendo CEO Satoru Iwata has taken a huge pay decrease and offered to buy back shares. Meanwhile, Nintendo may have a new plan to try and regain some traction in the gaming market.

During a press conference on Thursday, Iwata announced that he will receive just 50% of his usual salary over the next 5 months, with other board members taking a pay cut of between 20-30%. He also announced that in order to appease its understandably dismayed shareholders, Nintendo will be buying back nearly 8 percent of its outstanding shares.

At that same conference we were given a glimpse at Nintendo’s future plans, albeit a vague one. It seems that Nintendo is heavily considering licensing its trademark characters for the use of smartphone games, and may already be looking for a business partner. Though very much contradicting previous statements by the Nintendo CEO, the use of Nintendo characters in mobile games could help their financial standing.

Despite these announcements however, Nintendo stocks dropped nearly 3 percent on Thursday.

David Ochart

David Ochart

Contributor
Whether it's the newest release or a retro gem that somehow slipped by, David's hunger for new experiences is insatiable. He also has an unhealthy obsession with good tea and craft beer, but that's beside the point.
David Ochart

@DavidOchart

Cook, Play, Watch, Write, Read, Drink, Repeat. My tweeted opinions are my own, and not those of the companies who employ me.
After several years and hundreds of hours of use, I just finally bought the full version of #BeyondPod. Man I'm the worst... - 5 hours ago
David Ochart

Latest posts by David Ochart (see all)

Avatar of David Ochart

About David Ochart

Whether it's the newest release or a retro gem that somehow slipped by, David's hunger for new experiences is insatiable. He also has an unhealthy obsession with good tea and craft beer, but that's beside the point.

Search our archives:

Our stuff

Older stuff: